It’s not simply America. New knowledge present folks all around the globe don’t perceive primary ideas of funding and inflation. Suzanne Woolley writes on Bloomberg:
Most on-line quizzes are comparatively senseless, promising to disclose which vegetable, sandwich or rock band greatest represents your character. That was not the case for a brief on-line check given to 16,000 folks in 15 nations this 12 months. It revealed simply how unprepared a great chunk of the world is for retirement. The three-question check, given as a part of the Aegon Retirement Readiness Survey 2018, measured how effectively folks perceive primary monetary ideas. Most of the contributors failed the quiz, with massive potential penalties for his or her future safety.
Past the sobering lack of monetary literacy, there have been some somewhat curious knowledge in Aegon’s annual survey, printed on Tuesday. For instance, some 20 p.c of staff surveyed in China envisioned spending retirement with a robotic companion. However earlier than we get to that, check out this query — which solely 45 p.c of individuals all over the world bought proper: The attainable solutions? True, false, have no idea and refuse to reply. Sixteen p.c of individuals bought it fallacious. “Have no idea” was chosen by 38 p.c. Within the U.S., 46 p.c of staff bought it proper. Good for you, America — although Germany beat you handily. (The reply, in case you have been questioning, is fake.) It was an inflation query that had the best share of fallacious solutions, nonetheless. Greater than 20 p.c of staff didn’t grasp how greater inflation hurts their shopping for energy. On condition that declining well being was the most-cited retirement fear, at 49 p.c, and well being care is an space (within the U.S., particularly) with excessive value inflation, effectively, that makes the topic one thing older people ought to have down chilly.
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